British Expats

British Expats (https://britishexpats.com/forum/)
-   Middle East (https://britishexpats.com/forum/middle-east-60/)
-   -   Unlocking UK pension funds in Dubai?? (https://britishexpats.com/forum/middle-east-60/unlocking-uk-pension-funds-dubai-475677/)

English Girlie Aug 21st 2007 9:53 am

Unlocking UK pension funds in Dubai??
 
Morning all! xx :wub:

Does anyone know.....

Is it possible to unlock a UK pension fund, to purchase property in Dubai???

I know there are some countries which will do this, although I am unsure about Dubai!

Your help much appreciated......

xx :wub:

Blue Cat Aug 22nd 2007 8:32 am

Re: Unlocking UK pension funds in Dubai??
 

Originally Posted by English Girlie (Post 5215608)
Morning all! xx :wub:

Does anyone know.....

Is it possible to unlock a UK pension fund, to purchase property in Dubai???

I know there are some countries which will do this, although I am unsure about Dubai!

Your help much appreciated......

xx :wub:


send a PM to Meow - she will tell you :thumbsup:

Meow Aug 22nd 2007 3:00 pm

Re: Unlocking UK pension funds in Dubai??
 
Ha ha! Blue cat, I owe you a drink.

In brief - only part of a fund can be accessed if a person is aged over 55.

Please PM me for more info.

expatadvisor Aug 22nd 2007 7:46 pm

Re: Unlocking UK pension funds in Dubai??
 
Currently 50 is actually the minimum age to purchase an annuity and release 25% tax free cash from the fund. The minimum age to purchase an annuity is being raised to 55 from 6th April 2010.

Lots of caveats, taking a pension early may cost you dearly, with penalties possibly applying on drawing down early on the fund, younger lives also get lower annuity rates, thus a lower pension for life. There are other alternatives available, explore all options. Seek out a pensions expert with the appropriate advanced qualifications.

Blue Cat Aug 23rd 2007 6:34 am

Re: Unlocking UK pension funds in Dubai??
 

Originally Posted by Meow (Post 5221736)
Ha ha! Blue cat, I owe you a drink.

In brief - only part of a fund can be accessed if a person is aged over 55.

Please PM me for more info.

Sunday with Dave Crane :p:p

Meow Aug 25th 2007 11:02 am

Re: Unlocking UK pension funds in Dubai??
 

Originally Posted by expatadvisor (Post 5222877)
Currently 50 is actually the minimum age to purchase an annuity and release 25% tax free cash from the fund. The minimum age to purchase an annuity is being raised to 55 from 6th April 2010.

Lots of caveats, taking a pension early may cost you dearly, with penalties possibly applying on drawing down early on the fund, younger lives also get lower annuity rates, thus a lower pension for life. There are other alternatives available, explore all options. Seek out a pensions expert with the appropriate advanced qualifications.


As shown on English Girlie's profile she would not be able to access her fund until age 55.

Few advisers in Dubai have advanced qualifications, or even many qualifications in fact. Take care & ensure that the person has at least the Chartered Insuracen Institute (CII) Advanced Financial Planning Certificate.

The Financial Advicers International Qualification is so basic as to be laughable.

expatadvisor Aug 27th 2007 10:34 pm

Re: Unlocking UK pension funds in Dubai??
 
Totally agree, even better would be an adviser who is a certifed financial planner (internationally recognised status) even chartered status, and preferably fee based.


All times are GMT. The time now is 9:32 am.

Powered by vBulletin: ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.